SC adds crypto exchange Binance to alert list

KUALA LUMPUR: The Securities Commission has cautioned that Binance, world’s largest crypto currency exchange, does not comply with its securities law.

The regulator had added binance https://www.binance.com/en to its investor alert list of companies or websites that carry on capital market regulated activities without a licence or registration.

In its remarks, the SC said Binance was “operating a recognised market without authorisation from the SC”.

The SC regulates capital market activities which are dealing in securities; dealing in derivatives; fund management; advising on corporate finance; investment advice; financial planning; and dealing in private retirement schemes; provide services as a market operator; or issue or offer securities without proper approval, authorisation or recognition.

It said the list was not exhaustive and it would be updated periodically.

Those in the LIST OF UNAUTHORISED WEBSITES / INVESTMENT PRODUCTS / COMPANIES / INDIVIDUALS include OctaFX, Amal Trust/ Wakala Ventures, Lindale Ventures, eToro and FintechFX.

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